Pathstone Holdings LLC Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

Pathstone Holdings LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 237,431 shares of the social networking company's stock after selling 2,574 shares during the period. Meta Platforms accounts for about 0.6% of Pathstone Holdings LLC's portfolio, making the stock its 26th largest position. Pathstone Holdings LLC's holdings in Meta Platforms were worth $139,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 5.8% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock worth $2,939,000 after buying an additional 277 shares during the last quarter. RMR Wealth Builders boosted its holdings in shares of Meta Platforms by 4.9% in the 4th quarter. RMR Wealth Builders now owns 11,830 shares of the social networking company's stock worth $6,927,000 after buying an additional 556 shares during the last quarter. Matrix Trust Co purchased a new position in shares of Meta Platforms in the 4th quarter worth about $166,000. EWG Elevate Inc. boosted its holdings in shares of Meta Platforms by 8.0% in the 4th quarter. EWG Elevate Inc. now owns 390 shares of the social networking company's stock worth $228,000 after buying an additional 29 shares during the last quarter. Finally, Fjell Capital LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth about $1,836,000. Institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on META shares. Argus set a $775.00 price target on shares of Meta Platforms in a report on Tuesday, February 4th. Rosenblatt Securities increased their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Bank of America upped their price objective on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Evercore ISI increased their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, UBS Group raised their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms Stock Performance

NASDAQ META traded down $3.54 during trading hours on Friday, hitting $640.34. The company's stock had a trading volume of 18,351,566 shares, compared to its average volume of 14,531,362. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company's 50 day simple moving average is $570.68 and its two-hundred day simple moving average is $606.39. The company has a market cap of $1.62 trillion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.71 EPS. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $703.21, for a total transaction of $13,830,734.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan J. Li sold 8,553 shares of the business's stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now owns 51,793 shares of the company's stock, valued at approximately $38,154,349.31. This represents a 14.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,171 shares of company stock worth $55,161,016 in the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.